Recently, a reporter from China's ** newspaper visited and investigated the ** consumer market in Beijing and found that near the end of the year, festivals are coming one after another, superimposed on the sprint performance of enterprises, and major ** jewelers have launched greater discount activities. In the atmosphere of greater strength, consumers' enthusiasm for shopping is high.
Industry insiders said that with the continuous penetration of terminal jewelry consumption scenarios, the cyclical attributes of the domestic jewelry industry will be weakened, the growth attributes will be highlighted, and the industry's prosperity is expected to continue to rise.
Brands launch preferential activities.
The reporter visited and learned that at present, the pre-discount jewelry gold ** is generally about 620 yuan gram, and the labor cost is calculated separately. After the discount, the difference is large, and the difference between different brands of jewelry gold per gram is nearly 100 yuan.
Taking Chow Sang Sang as an example, the jewelry gold before the discount was 621 yuan, and the discount was 30 yuan per gram, and the labor cost was calculated separately.
Chow Tai Sang launched a greater discount. At present, Zhou Taisheng's jewelry gold ** is 608 yuan gram, with a discount of 100 yuan per gram, and the ** after the discount is 508 yuan gram. In addition, a fixed price of gold ornaments over 1,000 yuan will be returned 300 yuan.
Chaohongji launched an activity of 80 yuan per gram, and the ** after the discount is 542 yuan, and the labor cost is calculated separately.
In addition, diamond and gold products also have different degrees of discounts.
For example, Chow Tai Sang launched a buy-one-get-one-free campaign for diamond products. Chaohongji launched the second half-price diamond ring, and the custom diamond over 10,000 yuan will give 2,000 yuan to the ring holding activity.
The reporter visited and found that affected by the ** and the peak season of holiday consumption, major gold stores have attracted many consumers.
Recently, the international gold price has risen sharply, and there are few ** below 600 yuan. After the discount, it is indeed attractive, and the recent transaction volume has been significantly enlarged in the peak consumption season. A number of salespeople told a reporter from China's ** newspaper.
The performance of listed companies is good.
It is worth noting that judging from the financial reports of listed companies, affected by factors such as the continued high price of gold and the improvement of industry prosperity, the performance of ** stocks in the first three quarters generally performed well.
Wind data shows that among the 11 ** listed companies in the industry that disclosed their third quarterly reports, 9 companies achieved a year-on-year increase in net profit in the first three quarters. Shandong**, CICC**, Chifeng**, Yintai ** and other companies in the first three quarters had the highest year-on-year net profit growth.
Shandong's third quarterly report shows that in the first three quarters, the company achieved a total operating income of 4132.3 billion yuan, a year-on-year increase of 375%；Achieved net profit attributable to the parent company of 134.5 billion yuan, a year-on-year increase of 9412%。Since the beginning of this year, Shandong has made full use of the favorable opportunity of high-level operation, and its sales have been better than the same period last year. At the same time, the company actively exerts its initiative and continues to maintain its leading edge in resources through a variety of ways.
Yintai ** said that the company's cost advantage comes from a number of aspects: first, the company's short decision-making chain and low time cost are conducive to optimizing overall costs and management expenses;Second, the company's three major gold mines have efficient synergy, and have advantages in mining methods and beneficiation methodsThird, the company has the characteristics of an international mining company, with high transparency, perfect chain and high efficiencyFourth, based on the resource endowment, the company focuses on projects with good surrounding rock conditions, ore bodies suitable for large-scale mechanized production, and high beneficiation rate.
Industry insiders believe that benefiting from the upgrading of the first process and the higher price of gold, the profits of the jewelry industry are expected to achieve long-term stable growth.
The prosperity of the industry is up.
Institutions are generally optimistic about the **market** in 2024, and the main logic includes that the Fed's interest rate hike may have ended, and the interest rate cut cycle is expected to start in 2024, and gold prices are expected to go further**.
According to the research report of the League of Nations, there is a certain cyclicality in the industry. From the perspective of demand structure, the proportion of consumer demand has remained above 60% for a long time, and the overall performance of consumer demand is stable, mainly affected by factors such as per capita disposable income. The purpose of investment demand is to obtain investment income, and the sensitivity to *** is high. In the future, with the continuous penetration of terminal jewelry consumption scenarios, the cyclical attributes of the domestic jewelry industry will weaken, and the growth attributes are expected to be highlighted. Looking forward to 2024, the upward trend of gold prices is expected to be superimposed on the upgrading of jewelry technology, which will drive the growth of demand for non-wedding scenes such as accessories, and the prosperity of the industry is expected to continue to rise.
Industry insiders said that compared with markets such as the United States and Singapore, there is still room for 3-7 times more room for per capita jewelry consumption in Chinese mainland. In the future, with China's economic growth and the increase of national disposable income, there is still great potential for growth in Chinese mainland's per capita jewelry consumption.
For the international gold price outlook, Guotai Junan's research report shows that the overall trend in 2024 will be relatively high, and the trading rhythm will mainly follow the guidance of interest rate cut expectations, and the center of gravity in the first half of the year may be higher than that in the second half of the year, and the game will be concentrated in the first half of the year. Take COMEX ** as an example, the high point of the year is $2190 ounces, the low point is $1930 ounces, and the center of gravity is around $2000 ounces.